Samsung Overtakes Apple as Top Phone Maker with Global Smartphone Shipments Rising by 7.8%

According to statistics released on Sunday by research company IDC, Apple's smartphone sales decreased by almost 10% in the first quarter of 2024 as a result of fiercer competition from Android smartphone manufacturers vying for the top place.

Between January and March, shipments of smartphones worldwide rose 7.8% to 289.4 million devices, with Samsung (005930.KS) dethroning Apple as the leading phonemaker with a 20.8% market share.

The sharp drop in sales for the iPhone manufacturer follows a stellar quarter in which it surpassed Samsung to become the world's top phone manufacturer. With a 17.3% market share, it has returned to the second position as Chinese companies like Huawei increase their market share.

One of the leading smartphone manufacturers in China, Xiaomi, came in third place in the first quarter with a 14.1% market share.

Samsung, a South Korean company, delivered over 60 million smartphones during the first half of the year after launching its most recent flagship range, the Galaxy S24 series.

In the first three weeks of their release, sales of Galaxy S24 smartphones worldwide increased by 8% when compared to the Galaxy S23 series of the previous year, according to data source Counterpoint.

IDC reports that Apple delivered 50.1 million iPhones in the first quarter, compared to 55.4 million handsets during the same time last year.

In comparison to a year earlier, Apple's smartphone shipments to China decreased 2.1% in the last quarter of 2023.

The decline highlights the difficulties the American company has in its third-largest market, where several Chinese businesses and government organizations ban staff access to Apple devices. This practice is similar to American government prohibitions on Chinese software due to security concerns.

Investors are keeping a tight eye on Apple's artificial intelligence research efforts, since the company has not disclosed many details about how it plans to integrate AI technology into its products. Earlier this year, Microsoft (MSFT.O) overtook the corporation as the most valuable company in the world.

The Cupertino, California-based corporation will showcase upgrades to the software that powers iPhones, iPads, and other Apple products at its Worldwide Developers Conference (WWDC) in June.


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